STEP LEASE Definition

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STEP LEASE is a type of lease that outlines or stipulates the expected annual increases in the tenants base rent based on an approximation of what the landlord believes what the landlord's expenses may be.

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STANDARD AND POORS (S&P) 500 is an index of the 500 largest, most actively traded stocks on the New York Stock Exchange. It provides a guide to the overall health of the US stock market.

OMITTED is to leave undone or leave out, i.e. to prevent from being included or considered or accepted.

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